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Hello readers,
When I first heard about education-focused fintech startups Cicil and Pintek, I knew it was a story I wanted to share with you.
Apart from being at the intersection of two fascinating sectors, these startups also have a social impact: broadening access to education for millions.
In the course of writing this story, a couple of things stood out. First was the vast difference in the cost of capital between Singapore and Indonesia. Interest rates on unsecured loans to individuals in the latter can go for 3x as high!
Second was the delicate balance these startups have to strike with traditional banks, which are both lenders on their platforms and potential competitors. Banks may even end up as these companies’ exit opportunities, since they could possibly purchase these startups in the future.
So much is going on in the financial sector in Indonesia, and I can’t wait to see how the edfintech players continue to develop and find their footing in this dynamic industry.
— Simon Huang, journalist at Tech in Asia
TOP STORIES THIS WEEK
1️. ‘Edfintech’ in Indonesia: the billion-dollar opportunity
Edfintech in Indonesia is young, dynamic, and transformative, but the industry may still end up embracing traditional banks.
2️. The key players in Singapore’s thriving fintech space
With a vibrant investor scene, a sufficiently talented tech pool, and the requisite regulatory frameworks in place, it’s perhaps no surprise that Singapore is home to over 1,000 fintech startups
3️. Sea Group commissioner: Why now is the time for local unicorns to IPO
A public listing may be a lot of work, but it could also open up a fountain of capital.
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